ThinkProgress » Sen. Johnson’s Reaction To General Electric Paying No Taxes: Cut The Corporate Tax Rate

ThinkProgress » Sen. Johnson’s Reaction To General Electric Paying No Taxes: Cut The Corporate Tax Rate

"The New York Times reported today that General Electric’s effective tax rate in 2010 was zero. Despite making $14.2 billion in profits, the company received $3.2 billion in tax benefits. GE is able to drive down its effective tax rate via “an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore.”"